Lake Highlands Home Highlight – December 2017

Welcome to Lake Highlands Home Highlights! Each month, I’m dishing out an in-depth breakdown of the Real Estate happenings in our neighborhood. As a resident of Lake Highlands and mom to a White Rock Elementary student, I love our hood just as much as you do.

Happy New Year! The new year is well under way, but let’s jump back to December 2017 real quick and take a look at all the action that took place and compare it year over year.

Currently, there are 151 ACTIVE listings in Lake Highlands in MLS. That includes 33 NEW LISTINGS in December 2017. This number is down from 49 new listings in November 2016 and up from 32 new listings in November 2015.Last year the number of homes for sale was 105. This has decreased slightly to 96 homes for sale in December 2017. December 2015 saw the highest number of homes for sale at 108.

Per NTREIS trends®, 58 homes were closed in Lake Highlands in the month of December 2017, which is a 26% increase from the previous year’s 46 closings!

Lake Highlands – Dallas, TX Real Estate Report Summary

The average LIST price in December 2017 for single family homes in Lake Highlands was $413,091 (a -7% decrease from $443,784 in November 2016).

The average SALES price in December 2017 for single family homes in Lake Highlands was $411,796 (a +17% increase from the average in December 2016 of $351,698. Sales price is also up from December 2015 when it was $335,990.

The average SALES price per square foot in Lake Highlands for December 2017 is $172, an 12.4% increase from November 2016 ($153/sqft). This was also an increase from $150/sqft in November of 2015.

In December 2017 the Average Days on Market for Lake Highlands Home listings was 41. A decrease from the previous year’s 47 DOM.

Now, let’s zoom in on some of my favorite Lake Highlands neighborhoods and check out last month’s trends.

White Rock Elementary Area – Lake Highlands, TX Summary

The average LIST price in December 2017 is $543,000, which is a -27% DECREASE from December 2016, which was $746,580 and December 2015, ($550,000).

The average SALES price in the White Rock Elementary Area in December 2017 is $754,765. This is an INCREASE from December 2016 ($454,600) and December 2015 ($368,333).

Average price per square foot in December 2017 was $225. This is an increase from December 2016, which was $182 per square foot. December 2015 had an average price per square foot of $188. Average days on market decreased to 39 days in December 2017 from 79 in November 2016.

Lake Highlands Elementary Area – Lake Highlands, TX Summary

The average LIST price in December 2017 is $392,000 which is a decrease from December 2016, which was $405,318 and a decrease from December 2015. ($408,760).

The average SALES price in the Lake Highlands Elementary Area saw a -5% decrease in December 2017 of $357,367 from $375,708 in December 2016. Both years showed a huge increase in sales price from November 2015, which was only $314,745!

Average price per square foot in December 2017 was $195. This is an increase from December 2016, which was $173 per square foot. December 2015 had a higher per square foot than 2015, which was $184. Average days on market saw a -49% decrease YOY with 33 days in December 2017 over 65 in December 2016. Homes were really moving!

Wallace Elementary Area – Lake Highlands, TX Summary

The average LIST price in December 2017 is $402,475, which is an increase from December 2016, which was $388,650, but still an increase from December 2015. ($343,737).

The average SALES price in the Wallace Elementary Area saw an increase in December 2017 to $381,564 from $372,750 in December 2016. Average sales price is still up from the December 2015, which was $320,755.

Average price per square foot in November 2017 was $187. This is an increase from December 2016, which was $175 per square foot. December 2015 had the lowest price per square foot in the last 3 years at $146. Average days on market decreased -38% YOY to 23 days in December 2017 from 37 in December 2016.

Elissa Genova is a Dallas based REALTOR® with Davidson Lane Real Estate Group, motivated by working with home buyers & sellers that appreciate her market knowledge and are ready to take the plunge! Elissa brings experience, innovation and a sharp sense of customer service to each real estate transaction. For help buying or selling a property, call 214.662.9560.